Feb 14, 2013 6:00am EST
. >> confronting a fiscal cliff in january, potential debt ceiling dault, in march, sequestration, government shutdown -- could this shake the confidence of some investors and our ability to deal with our responsibility? >> yes, congressman, we think that perennial crisis mode of fiscal policy over the past few years is reducing people's confidence. how big an effect that is, we don't know. >> the gentleman's time has expired. >> thank you, chair and thank you for being back with us. by anyone's objective measure, we would consider you a smart and intelligent man and a good economist. >> thank you, congressman. >> it strikes me that some of us want to speechify rather than use this precious time to engage you in conversation. for the record, i really appreciate that line of questioning. i will try to continue on in that regard. speaking of speechifying, we heard it is impossible to get ourselves out of this debt situation through spending cuts alone. i want to understand, that if i am correct, that the cbo projects that revenue will double from 2012 levels to $5 trillion in 2023 basnight yes.
Feb 14, 2013 4:00pm EST
i worry about is sequestration coming out on the first of march, debt ceiling issue right after that, and then we have the eurozone. just right now they are trying to figure out how can we raise more capital to sustain the countries in europe. if that goes through, that's going to be a big issue for trading in the u.s. and internationally as well. taking a big bite out of potentially what we can have for a profit overall. those are real worries. but somehow, the u.s. markets right now to push those aside and avert those because someway, somehow, they are going to be averted and there is going to be an answer to them in the market will go straight up. which i think is a little bit of false sense of security. those opportunities that they do, those are the buying opportunities. long-term, optimistic, short term. david: we will get to your stock picks in the second. they are yearning for higher yields, but there is a lot of risk. does that concern you at all? >> we have had this low, honestly we are hovering near 2% now, the bigger picture is it is the better part of 30 years. from our